Enrolled Senate Bill (S)
Authored by: Sen. Brandt Hershman, Sen. Luke Kenley, Sen. Travis Holdman
Co-Authors: Sen. Sue Landske, Sen. James Smith, Sen. Dennis Kruse, Sen. Patricia Miller, Sen. Ed Charbonneau
Sponsors: Rep. Timothy Brown
  • Sen. Brandt Hershman
    Sen. Brandt Hershman

    Author

  • Sen. Luke Kenley
    Sen. Luke Kenley

    Author

  • Sen. Travis Holdman
    Sen. Travis Holdman

    Author

  • Sen. Sue Landske
    Sen. Sue Landske

    Co-Author

  • Sen. James Smith
    Sen. James Smith

    Co-Author

  • Sen. Dennis Kruse
    Sen. Dennis Kruse

    Co-Author

  • Sen. Patricia Miller
    Sen. Patricia Miller

    Co-Author

  • Sen. Ed Charbonneau
    Sen. Ed Charbonneau

    Co-Author

  • Rep. Timothy Brown
    Rep. Timothy Brown

    Sponsor

  • Rep. P Eric Turner
    Rep. P Eric Turner

    Co-Sponsor

  • Sen. Brandt Hershman
    Sen. Brandt Hershman

    Conferee

  • Sen. Luke Kenley
    Sen. Luke Kenley

    Conferee

  • Rep. P Eric Turner
    Rep. P Eric Turner

    Conferee

  • Rep. Timothy Brown
    Rep. Timothy Brown

    Conferee

  • Sen. Timothy Skinner
    Sen. Timothy Skinner

    Advisor

  • Sen. Ryan Mishler
    Sen. Ryan Mishler

    Advisor

  • Rep. Steven Braun
    Rep. Steven Braun

    Advisor

  • Rep. Todd Huston
    Rep. Todd Huston

    Advisor

  • Rep. Mara Candelaria Reardon
    Rep. Mara Candelaria Reardon

    Advisor

  • Rep. Terry Goodin
    Rep. Terry Goodin

    Advisor

  • Rep. Clyde Kersey
    Rep. Clyde Kersey

    Advisor

  • Rep. Sheila Klinker
    Rep. Sheila Klinker

    Advisor

  • Rep. David Niezgodski
    Rep. David Niezgodski

    Advisor

  • Rep. Cherrish Pryor
    Rep. Cherrish Pryor

    Advisor

  • Rep. Steven Stemler
    Rep. Steven Stemler

    Advisor

DIGEST

State and local taxation. Specifies that the county income tax council of a county may adopt an ordinance providing that if for a particular assessment date the acquisition cost of a taxpayer's business personal property in a county is less than $20,000: (1) the taxpayer is not required to file a personal property return for the taxpayer's business personal property in the county for that assessment date; and (2) the taxpayer's business personal property in the county for that assessment date is exempt from taxation. Specifies that such an exemption ordinance may apply to assessment dates after December 31, 2015. Specifies that this exemption ... does not apply to mobile homes assessed as personal property, personal property held as an investment, or personal property that is owned by certain utilities subject to regulation by the utility regulatory commission and is assessed as utility property. Requires the taxpayer to file a certification with the county assessor before May 15 of the year in which the assessment date occurs, and imposes a penalty if the annual certification is not timely filed. Provides that the tax rate for certain tax increment financing areas shall be calculated as if this exemption were not in effect. Provides that a county income tax council may adopt an ordinance to exempt from property taxation any new business personal property that is located in the county. Specifies that this exemption does not apply to mobile homes assessed as personal property, personal property held as an investment, or personal property that is owned by certain utilities subject to regulation by the utility regulatory commission and is assessed as utility property. Provides that a designating body may establish an enhanced abatement schedule for personal property that may not exceed 20 years. Provides that if a county or municipality receives a reimbursement, repayment, or penalty from a taxpayer on account of the taxpayer's failure to comply with the statement of benefits provided by the taxpayer as part of a property tax abatement or on account of the taxpayer's failure to comply with any other requirement to receive a property tax abatement, the county or municipal fiscal officer shall distribute the amount of the reimbursement, repayment, or penalty on a pro rata basis to each taxing unit that contains the property that was subject to the abatement deduction. Phases down the corporate income tax rate from 6.5% in 2015 to 4.9% after June 30, 2021. Phases down the financial institutions tax rate to 4.9% in calendar year 2023. Provides that a retail merchant engaged in selling bulk propane at retail in Indiana shall claim a credit before June 30, 2014, equal to the sales tax paid by the retail merchant's customers after December 31, 2013, and before April 1, 2014, on that part of the price of bulk propane that exceeded $2.50 per gallon. Requires such a retail merchant to provide a credit to customers of the retail merchant on their next purchase of bulk propane occurring after the retail merchant claims the credit. Specifies that retail merchants are entitled to a collection allowance for administering the credits provided to customers. Establishes the commission on business personal property and business taxation to study certain issues during 2014.